An executive with another club told the Union-Tribune last week that the process of exploring ownership will be “quite lengthy” because baseball Commissioner Bud Selig is against “a distress sale” of the Padres.

Moores and his wife, Becky, are going through a divorce after 44 years of marriage. They own 90 percent of the team, and because of community property laws in California, Becky shares 50 percent of that asset.

One potential complicating factor is that some ownership shares are preferred and others are not, creating different valuations not easily resolved.

The Padres are not the first asset being put up for sale by John and Becky Moores. Other property, including an estate near Pebble Beach, is on the market.

Moores told mlb.com that “there's a cooperative process between me and Becky ongoing now through Goldman Sachs.”

Goldman Sachs has been involved in the sale of several MLB teams.

Padres Chief Executive Officer Sandy Alderson reiterated yesterday that he doesn't foresee a change of ownership structure that would affect the club's payroll for 2009, which could be close to half of last year's Opening Day payroll of about $73 million.

“Simply stated,” Alderson said, “I'd like to see it play out to John's satisfaction. I think his comments probably today reiterate his desire to stay involved. I just expect to be supportive of the process. I am sure that we on the staff will be involved to some extent, but that's to be determined.”

In an April assessment of team valuations, Forbes magazine pegged the Padres' value at $385 million, which ranked 19th among 30 teams.

For the 2007 season, the team had operating income estimated at $23.6 million on revenue of $167 million. However, debt service on Petco Park cut into the team's profit.

Prospective owners will be studying a Padres franchise that has $225 million in debt, roughly half of which is locked in at an 8 percent interest rate that cannot be pre-paid.

Petco Park, which opened in 2004, anchors the Padres to San Diego through 2032. Other Padres assets include an $8 million facility in the Dominican Republic that recent signees such as Venezuelan pitcher Adis Portillo described as the best of its kind.

Adding to the club's appeal to prospective owners, future player payrolls are bereft of bloated contracts, such as those given to Phil Nevin, Ryan Klesko and Jeff Cirillo, that had hampered the front office.

As when Moores bought them, the Padres are coming off a terrible season. The 2008 club went 63-99 and finished last, which, along with the recession and reports of a shrinking payroll, has the club projecting an attendance drop of 400,000 to 500,000 from more than 2.4 million last season.

In late 1994, Moores bought low. The Padres were coming off a 47-70 strike-shortened season and baseball was mired in a labor stalemate that lasted until the spring of 1995.

But Moores' timing was good in many regards. A trade orchestrated by General Manager Randy Smith that would bring future All-Stars Ken Caminiti and Steve Finley needed only his OK in December 1994. Moores also inherited a strong cast of inexpensive but productive pitchers headed by Trevor Hoffman, Andy Ashby and Joey Hamilton, plus a $21 million payroll that he would double within three years.